Oversight and Internal Controls
Custodial Responsibility
What the custodian does. Who can be custodian.
Separation of Duties
How to assign tasks to reduce the chance of fraud.
Fraud
What to do if fraud is detected. How to detect and prevent fraud.
Fund Verifications
Reporting requirements for ongoing funds (change funds, IOFs and revolving funds). Custodial and annual reviews. Fiscal year end bank statement submission.